The euro dipped below $1.06 on Friday, succumbing to pressure ahead of expected further cuts in euro zone interest rates next week.» Read More
Bets by some of the same banks that helped Greece shroud its mounting debts may actually now be pushing the nation closer to the brink of financial ruin, the New York Times reported.
The Greek government's second bond auction of the year will be one of the key drivers of global markets over the coming days. While no date is yet set, Athens must raise significant funds via bond sales or face the prospect of default.
I don't know. I spent the last two weeks from afar and saw conflicting signals.
If you remember the 1970's in New York City you wish you could go back to the '60's. The City was dirty, seemingly lawless with the "squeegee guys" attacking your car if you stopped at a light, and had a general feeling on being unsafe.
Greece's debt swaps came to light because of the battle between big banks and regulators in the US, Gikas A. Hardouvelis, professor of finance at the University of Piraeus and chief economist at Eurobank EFG Group, told CNBC Thursday.
China's move to unload US debt is likely to continue in the long term while the "euro scare" may last a while, legendary investor Jim Rogers told CNBC.com Wednesday.
Greece's 2001 deal to swap some of its debt using currency derivatives was in line with what other euro-zone countries were doing, Yiannos Papantoniou, the country's finance and economy minister when the deal was made, told CNBC.com Wednesday.
The EU should thoroughly investigate the case of the debt swaps involving Greece and Goldman Sachs, as these types of operations are destabilizing financial markets, economist Simon Johnson told CNBC.com.
Crisis meeting follows crisis meeting on resolving the debt debacle in Greece, but it seems solutions and even resolutions are hard to find.
Europe, the EU and the euro zone are not on the brink of an abyss. They are simply dealing with the expected problems inside the biggest currency area in the western world. And they will deal with them.
The European Commission said Monday that it wants Greece to explain how it used complex financial deals that allegedly made its debt limits look lower.
China and the Far East occupy a far different place in the business cycle compared to Europe and the United States. The nascent Chinese exit strategy will be a test case for other nations to follow when the cycle recovers.
Much as I am sick of bailout nation, and bailout global nation, the European rescue of Greece was probably necessary to stop a total euro currency meltdown that might have triggered a worldwide debt deflation downward spiral.
I’m trying hard to remain optimistic about economic recovery here in America — and for that matter, around the world.
Financial markets are betting heavily that Greece's crushing debt could drag down the entire eurozone, and that could force reluctant EU leaders into an embarrassing bailout.
Apparently, the Greek government has called in the big hitters to help them with their fiscal dilemma.
Countries like Greece are being "attacked by financial markets" and the European Union should intervene in the stock market to "teach speculators a lesson," according to Nobel Prize winning economist Joseph Stiglitz.
The proposed new banking rules here in the U.S. caught many international bankers off guard and were one of the most prominent topics of discussion at the recent World Economic Forum in Davos.
Whether he likes it or not, Jean-Claude Trichet is not just the president of the European Central Bank. Mr. Trichet, 67, is also the de facto president of Europe, at least for the 16 nations that rely on the euro as their common currency.
Amid fears that go-it-alone moves such as President Barack Obama's plan to break up big banks will further hamper the fledging economic recovery, finance ministers and central bankers from the Group of Seven major industrial countries meet.